Digital Marketing Agency Sourcing
STRATEGIC SOURCING FOR DIGITAL MARKETING: YOUR DIGITAL REALITY
All brands, regardless of target market or industry, have carved out a space in the digital world. Their physical presence – in magazines, direct mail, and television broadcasts, to name a few – is accompanied by counterparts in social media, apps, and other immersive experiences. In a reality where customers are constantly being bombarded with information, and trends rise and fall at the speed of light, digital marketing has become much more than creating a website. Digital marketing is about establishing an advanced, targeted marketing channel.
Source One provides strategic sourcing and consulting services for businesses seeking to navigate through the agency labyrinth and partner with a digital advertising agency whose adaptability and expertise in executing omnichannel strategies will effectively engage people. We emphasize working with organization leaders to understand their objectives, serving as decision support throughout agency selection processes.
STRATEGIC SOURCING FOR DIGITAL MARKETING: EVALUATING AN AGENCY
In order to partner with an agency that is able to appropriately leverage big data and authentically connect with the audience, companies must first be able to evaluate the agency’s performance and examine factors that include:
- Digital Strategy and Tactical Execution
- Search Engine Optimization
- Website and Software Application Development
- User Experience
- Social Media Presence
- Digital Media Buying and Planning (e.g. banner ad placements)
- Organizational Cultural Fit
STRATEGIC SOURCING FOR DIGITAL MARKETING: MAPPING OUT YOUR DIGITAL SOLUTION
Our team of digital marketing sourcing experts has worked with hundreds of digital marketing agencies and is able to navigate the busy landscape and overall network of agencies within each major holding company. Our sound market intelligence can help deliver the agency that has the necessary capabilities and experience for your particular business needs. Our strategic sourcing consultants can connect you with the ideal agency, from a small start-up digital marketing house to a global marketing communications agency.
- To provide clients with informed decision-making support, Source One’s digital marketing sourcing team maintains a wealth of market intelligence in the form of historical price and marketing condition databases, as well as insight into developing standard Scope of Work documentation and contracting.
- Our in-house IT professionals collaborate with the Marketing team to provide insight on technical requirements and functionality, as well as on digital strategy, creative work, and cultural fit, as opposed to procurement solely focused on cutting costs.
- Our past and current digital-focused projects span across several industries, including healthcare, pharmaceutical, insurance, and professional services, among others.
As no two agencies are truly alike, our formal sourcing processes are customizable to meet the needs of your business. Throughout our various engagements, we have developed strategic sourcing processes for digital marketing agencies that include:
- Identification of agencies with digital strategy and execution as core competencies.
- Thorough conflict of interest screening process.
- Creation and execution of a Request for Information (RFI).
- Creation and execution of a Request for Proposal (RFP), outlining pitch expectations and a high level SOW.
- Detailed evaluation and summarization of agency responses.
- Coordination of agency on-site pitch presentations, with a scorecarding element for evaluation purposes.
- Pricing and contract negotiations.
STRATEGIC SOURCING FOR DIGITAL MARKETING: THE DIGITAL AGE
With the constant use of social media and digital outlets by the millennial generation, marketing has shifted in a way that presents a broad range of challenges and opportunities. Overall, marketers are seeing the need to have a stronger presence in the digital space. Although television is still commonly used as a marketing channel, companies are realizing that greater results can be delivered by incorporating a digital-based application into their overall tactical plan.
Source One’s strategic sourcing digital marketing team has helped companies across the business spectrum embrace this change and work to select an ideal digital marketing agency. The full service agency of record (AOR) model that has supported marketers for quite some time is getting a makeover. Digital activities once assigned to an AOR are now being carved out from their scope and transitioned to a digital shop that is more tech savvy and focused on the user experience. And in some cases, full service AORs are acquiring these smaller shops to expand their service offering.
If you are not pleased with your current agency or wish to separate the digital projects from your full service AOR, Source One’s strategic sourcing digital marketing experts know the right criteria to evaluate your options and will serve as decision support as you explore other opportunities.